Trump's Tariffs Impact Automotive Industry

This is a U.S. news story, published by CNBC, that relates primarily to Goldman Sachs news.

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tariff costs

CNBC

•

Technology

Trump's ongoing 25% auto tariffs expected to cut sales by millions, cost $100 billion

Summary

Nutrition label

87% Informative

Analysts are expecting to see a drop in vehicle sales in the millions , higher new and used vehicle prices, and increased costs of more than $100 billion for the industry.

Goldman Sachs assumes new vehicle net prices in the U.S. will rise by roughly $2,000 to $4,000 over the next six- to 12-month timeframe.

BCG expects tariffs to add $110 billion to $160 billion on an annual run rate basis in costs to industry.

"Over the longer term, we expect production and sales to fall, newly used prices to increase, and some models to be eliminated." Expected price increases vary based on vehicle, but Cox estimates a $ 6,000 increase to the cost of imported vehicles due to the 25% tariff on non-U.S. assembled vehicles, as well as a $ 3,600 increase to vehicles assembled in the U.S. due to upcoming 25% tariffs on automotive parts. Those are in addition to $300 to $500 increases as a result of previously announced tariffs on steel and aluminum..

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful